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As China's economy has grown in the past 38 years, so, too, have the spending habits of urban residents. In tandem with the rapid uptick in economic fortunes of the country, people have gradually increased spending on things like education, entertainment, travel and culture.

Ars Technica has a good roundup of the last-minute leaks, pointing to an iPad mini with a 7.85-inch screen.?A smaller iPad would go head-to-head with Amazon’s Kindle Fire lineup, which expanded this year beyond the original 7-inch size to include the new 8.9-inch Kindle Fire HD. The current iPad has a 9.7 inch screen.

As China has mature manufacturing foundations, the country doesn't need to rely on machinery and parts import from the US. Germany, Sweden, France, Japan and South Korea can meet the country's demand for various industrial parts and equipment, he said.

Artists perform traditional Tibetan Opera during the Sho Dun Festival in Namling county, Tibet autonomous region, in August. The festival features opera performances and yogurt feasts. [Photo/Xinhua]

As Chinese people celebrate the 70th anniversary of the founding of the People's Republic of China and the nation pledges to further reform and open up, UK experts are optimistic that Chinese outbound investment to the United Kingdom should not be impacted, despite the new geopolitical environment of global trade frictions and the rise of unilateralism.